The U.S. Energy Secretary predicts that oil prices will decline further and states that oil transportation through the Strait of Hormuz has returned to "normal levels."

Wright said on an ABC News program: "I no longer try to predict the trend of crude oil or gasoline prices, but oil prices will continue to decline. The volume of oil and natural gas transported through the strait has now returned to normal. Regardless of how U.S.-Iran negotiations progress, transportation will remain stable. U.S. crude oil production continues to rise, production in Venezuela has increased substantially, and we are cooperating with other energy-producing countries around the world. Therefore, I believe the American public can expect energy prices to continue to fall." On the program, Wright told co-host Jonathan Karl that Sunday's candid conversation would clarify Iran's demands and what concessions the Iranian side believes it may need to make. Speaking about Iran, Wright said: "They no longer have the leverage in this negotiation that they have traditionally enjoyed in previous talks."